SolarEdge Technologies (NASDAQ:SEDG) Shares Gap Up After Analyst Upgrade

SolarEdge Technologies, Inc. (NASDAQ:SEDG) gapped up before the market opened on Tuesday after Barclays raised their price target on the stock from $11.00 to $12.00. The stock had previously closed at $18.72, but opened at $19.50. Barclays currently has an underweight rating on the stock. SolarEdge Technologies shares last traded at $20.48, with a volume of 833,433 shares traded.

A number of other brokerages also recently issued reports on SEDG. Royal Bank of Canada raised their price objective on SolarEdge Technologies from $14.00 to $15.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 20th. Wells Fargo & Company cut their price objective on SolarEdge Technologies from $19.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Canaccord Genuity Group raised their target price on SolarEdge Technologies from $14.00 to $16.50 and gave the company a “hold” rating in a research note on Wednesday, May 7th. The Goldman Sachs Group boosted their price target on SolarEdge Technologies from $21.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Finally, UBS Group upped their price objective on SolarEdge Technologies from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday. Ten research analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $17.00.

Institutional Trading of SolarEdge Technologies

Several large investors have recently modified their holdings of the company. Fifth Third Bancorp grew its stake in shares of SolarEdge Technologies by 93.7% during the first quarter. Fifth Third Bancorp now owns 1,633 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 790 shares during the last quarter. Edmond DE Rothschild Holding S.A. grew its stake in shares of SolarEdge Technologies by 60.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,600 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 600 shares in the last quarter. Millstone Evans Group LLC acquired a new position in SolarEdge Technologies in the fourth quarter valued at $27,000. Jones Financial Companies Lllp boosted its stake in SolarEdge Technologies by 401.2% in the fourth quarter. Jones Financial Companies Lllp now owns 2,441 shares of the semiconductor company’s stock valued at $33,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Banque Cantonale Vaudoise purchased a new position in SolarEdge Technologies during the first quarter worth about $35,000. Institutional investors own 95.10% of the company’s stock.

SolarEdge Technologies Stock Down 0.5%

The firm’s 50-day simple moving average is $15.72 and its two-hundred day simple moving average is $15.33. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -0.67 and a beta of 1.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.95 and a quick ratio of 1.46.

SolarEdge Technologies (NASDAQ:SEDG) last released its earnings results on Tuesday, May 6th. The semiconductor company reported ($1.14) EPS for the quarter, topping analysts’ consensus estimates of ($1.26) by $0.12. SolarEdge Technologies had a negative net margin of 192.13% and a negative return on equity of 95.05%. The business had revenue of $219.48 million for the quarter, compared to the consensus estimate of $205.39 million. During the same period in the previous year, the firm earned ($1.90) EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. Sell-side analysts predict that SolarEdge Technologies, Inc. will post -4.54 EPS for the current fiscal year.

SolarEdge Technologies Company Profile

SolarEdge Technologies, Inc, together with its subsidiaries, designs, develops, manufactures, and sells direct current (DC) optimized inverter systems for solar photovoltaic (PV) installations in the United States, Germany, the Netherlands, Italy, rest of Europe, and internationally. It operates in two segments, Solar and Energy Storage.